Unsold Mansions Go Up For Auction

Even the wealthy have been hard hit by the country’s economic problems — Bill Gates alone has lost more than $1.5 billion — and their luxurious homes are the first to hit the chopping block. CNN Money reports on seven mega mansions, ranging in price from $1.5 million to $15 million, that Sotheby’s auction house plans to auction off on March 28, 2009.

The auction’s most affordable home, which comes in at a mostly-unaffordable $1.495 million, is located in Fort Lauderdale. The 5 bedroom, 3.5 bathroom home is billed as a cottage, and sits adjacent to fabulous golf courses and country club offerings. Marble floors, a golf course view, and a beautiful 30′ by 15′ pool round out the home’s assets.

Sotheby’s most expensive home, also located in Fort Lauderdale, was originally priced at $14.999 million. The 9 bedroom, 9 full bath and 4 half bath home will sell for much less (if at all), and its proud new owners will enjoy an infinity pool, spectacular landscaping, a home theatre, massage room, and even an indoor pool. No word on the mansion’s starting bid price.

Clearly, even the country’s wealthy home owners have seen their investments dive. If you’re one of the lucky few who still a bank account full of disposable income, check out CNN Money’s auction rundown… great deals are sure to be had.